Please enable JavaScript.

Coggle requires JavaScript to display documents.

The Narrow Road - Coggle Diagram

- - - - LEAD, do not be LEAD. Your employees and advisors are just that, employees and advisors, you are the owner, you must lead.
- - - - Reinforcing Failure - Do not fall in love with your project, examine is it the product/service itself or it's implementation. Does nobody want it or have you hired the wrong team to produce or sell it?
        
        Skimping on Talent - Identify, hire and nurture others with talent. Talent is the key to sustained growth & growth is the key to early wealth. - Identify it, hire it, nurture it, reward it, protect it from being poached, fire it.
        
        All of these are common start up errors.
- - - - Sharks - You want to have good credit, avoid juggling credit cards etc. Forget the sharks, there are better ways of raising capital.
        
        The Nature of Dolphins - VCs only care about the short term ROI, they will usually take the controlling stake in the business they invest in, as they provide capital & talent. They are not evil, but their loyalty is to the quick buck rather than to the start up they invest in.
        
        Playing with Dolphins - Their money is not for the fainthearted, unless you're building something for a quick(ish) return and a small piece of the action. - Which is okay in the short term.
        
        Banks - You have to have a lot to lose, Not Many Previous Failures, Serious Competition and no deep pockets, Good idea, with strong potential, Does the entrepreneur appear determined, hard worker, frugal, steady, is there an investor, partner or mentor with experience in the picture?
        
        Timely Repayments & Regular Summaries of Perfomance impress bankers.
        
        Swimming With The Fishes - Save Seed Capital Yourself, Create a Sensible Plan and show it to other fishes, relatives and friends as loan money
        
        Raise Capital or Become a Wage Slave :smiley:
- - - - Settle Down - Bring in young guns again, more stamina, ability to get back from setbacks, desire to impress and succeed.